Global snus market is projected to grow with a CAGR of 4.2% during the forecast period (2019 - 2024).
- Growing consumption of snus as an alternative for cigarette and increasing popularity of smokeless tobacco products across the globe is playing key role to drive the snus market.
- Key players are investing to create awareness about their products that have less health-damaging properties and a better alternative for cigarettes. For instance, in 2015, Swedish Match opened many stores in Strömstad and Gothenburg. The company stocked the snus store with its world-renowned snus products. They also deployed store staff members to create awareness about the benefits of consuming snus over other tobacco products
Scope of the Report
The snus market majorly covers the products such loose snus and porton snus. By distribution channel, the market is segmnted as tobacco store,convenience stores, and others. The study also offers market analysis at a global level.
Key Market Trends
Rising Inclination Towards Smokeless Tobacco Products
Cigarette smokers comprise the principal target group for loose snus. WHO’s surveys show that many smokers want a stronger snus in order to view it as an option. The increase in sales of previously launched loose snus with high nicotine content also clearly indicates considerable demand for loose snus products with high nicotine content. For instance, Swedish Match launched General Ekstra Sterk Loose snus with strong tobacco flavor and more nicotine which gained popularity among consumers across the Europe and North America.
Norway to Witness Significant Growth the Europe Snus Market
Europe holds significant market share in snus market across the globe. In Sweden, the number of snus users has been growing and has surpassed the number of cigarette users which is playing key role to drive the snus market growth in the Europe region. The growth of market in the Asia-Pacific is anticipated to be driven by government’s initiatives to reduce the cigarette consumption by increasing prices and imposing additional taxes on cigarette. For instance, impending tax increase in Japan and India affecting on traditional cigarettes sales which is creating big opportunity for the growth snus products. In Asia-Pacific, India is one of the prominent destinations of the snus market. In India, smokeless tobacco products including snus are illegal but the consumption of smokeless tobacco in the rural area is high which is playing key role to drive the market growth in Asia-Pacific region.
Leading manufacturers in the snus market focus on leveraging opportunities posed by increasing consumption of smokeless tobacco products including snus in the Asia-Pacific region, to expand their consumer base. Key players are investing in research and development activities, especially to leverage the manufacturing technology and to develop the product offering to the consumers which are looking for alternative for cigarette. Key players are embarking on mergers and acquisitions, since their primary focus is to increase revenue and optimize offerings and operational profits.
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